Black to face more litigation after verdict

Former media mogul Lord Black of Crossharbour will now face a torrent of further litigation which could see anything that remains of his fortune drained by fines and forfeitures.

As he faces the prospect of years behind bars, the once-powerful newspaper executive is also likely to be barred from serving as an officer or director of any publicly-traded US company as the US Securities and Exchange Commission resumes its multi-million dollar civil lawsuit against him.

The 62-year-old is also being sued by Hollinger International, the company he once headed and which is now called the Sun-Times Media Group, in a 542 million dollar (£271 million) lawsuit.

It alleges that Black, along with other former executives, showed negligence, breach of contract and "unjust enrichment".

The Chicago-based company also covered some of the bill for Black's defence, but could demand its money back now he has been found guilty.

In Canada, the Toronto-based holding company Hollinger Inc has also launched a 750 million Canadian dollar (£351 million) lawsuit against the former media baron.

And Black's one-time private holding company, Ravelston Corp Ltd, of Toronto, is in bankruptcy and has pleaded guilty through its Canadian receiver in the criminal case, agreeing to pay a seven million dollar (£3.5m) fine.

Canadian investors also have a class-action lawsuit running against Black, his wife Barbara Amiel, his chief lieutenant David Radler, and others, seeking at least four million dollars (£1.8 million) in damages in a bid to recover market losses.

The former proprietor of one of the world's largest newspaper chains is also involved in a number of other lawsuits.

In October 2005, the US Attorney's Office in Chicago seized nine million dollars (£4.5m) from the sale of Black's New York apartment, saying proceeds were accumulated as part of an alleged fraud scheme.

A month later, Black sued the US government, claiming the FBI improperly seized almost nine million dollars (£4.5m) of his money.

Black also filed defamation lawsuits against his opponents, including one against Hollinger International's special committee in October 2004 after it accused him of running the firm like a "corporate kleptocracy".

In all, Black has claimed more than three billion dollars (£1.5bn) in damages, and has said his lawsuits were "patiently waiting like racehorses at the starting gates" until he was vindicated.

But now his defeat by the US government will cast a long shadow.

Black has always maintained he was innocent of the fraud, racketeering and obstruction of justice charges he faced and said he put his faith in the hands of "12 American citizens, in one of that country's greatest cities, more or less at the bar of Abraham Lincoln and Clarence Darrow".

In March this year, the former newspaper tycoon hit back at his accusers in Tatler magazine, insisting he was innocent.

"I know I am innocent of the allegations against me, as does almost anyone who actually knows me, and I am about to prove it," he said.

"I have never had the slightest doubt of the outcome of a fair trial."

He talked of how he looked forward to returning to London with his second wife Barbara Amiel after being vindicated, before dividing his time between England's capital and Canada.

"Barbara and I have struggled through a great many difficulties almost every day," he said.

"We have resumed writing and, despite this unholy onslaught, though there have been some disappointments, we have maintained almost all the friendships and possessions that we had valued.

"Our marriage is impregnable and family relationships are even closer and more highly valued than they had been before."

He defended his wife from critics, and described her as a "perfect wife and a fine writer".

He also attacked the justice system and said the presumption of innocence had been a "risible fiction until we got to the court".

Whenever Black referred to his future, he always spoke of what he would do "when" acquitted, as opposed to "if".

"When we are acquitted, the question of the justification for this orgy of self-directed largesse will finally replace, as the real issue, the malignant canard of possible criminal behaviour by the present defendants," he told Tatler.

"And my libel suits, the largest in Canadian history at over three billion (£1.5bn), especially those against my accusers on the Special Committee, which have been patiently waiting like racehorses at the starting gates, will finally proceed."